give 'em a big 10, 15-point cut, and some of that money will come back to america. that is the argument at least, bill, and it's part of this debt reduction debate. it's in there. bill: you lay it out there. thank you, stuart. catch you on fbn in a minute. >> all right. let's put the debt deadline in perspective for you. the u.s. treasury department expects the u.s. to face default on some of its commitments by august 2nd. administration aides say that an agreement must actually be reached, though, by july 22nd to give congress time to draft and pass any bill. the numbers show the amount of debt held by the public has grown 54% under president obama. bill: cuts to medicare seem to be a foregone conclusion in this budget battle, but will republicans accept any tax increases? in a moment we'll talk to republican senator rob port match of ohio, he was -- portman of ohio, he was here live to tell us what was on the table as of this morning. stay tuned for that. alisyn: our other top story this morning, after three years and more than a month of testimony, the fate of ca